Can I retire at age 60 with 642,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $642,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.2%
1 years$53,016$52,544$52,083$51,633$51,194$49,496
2 years$26,245$25,757$25,283$24,824$24,378$22,684
3 years$17,323$16,832$16,360$15,905$15,466$13,829
4 years$12,863$12,373$11,906$11,458$11,031$9,463
5 years$10,187$9,701$9,239$8,801$8,385$6,891
6 years$8,404$7,922$7,467$7,038$6,635$5,216
7 years$7,131$6,653$6,205$5,787$5,396$4,051
8 years$6,177$5,702$5,262$4,854$4,477$3,206
9 years$5,435$4,965$4,532$4,135$3,770$2,571
10 years$4,842$4,376$3,951$3,564$3,212$2,084
11 years$4,357$3,896$3,479$3,102$2,763$1,702
12 years$3,953$3,497$3,087$2,721$2,394$1,399
13 years$3,611$3,160$2,758$2,402$2,088$1,156
14 years$3,319$2,873$2,478$2,132$1,830$959
15 years$3,066$2,624$2,238$1,902$1,611$798
16 years$2,844$2,408$2,029$1,703$1,424$666
17 years$2,649$2,217$1,846$1,530$1,263$557
18 years$2,476$2,049$1,685$1,379$1,123$467
19 years$2,321$1,899$1,543$1,246$1,001$392
20 years$2,182$1,765$1,416$1,128$894$330
21 years$2,056$1,644$1,302$1,024$800$277
22 years$1,942$1,534$1,200$931$717$233
23 years$1,838$1,435$1,108$848$644$197
24 years$1,743$1,344$1,025$773$578$166
25 years$1,655$1,262$949$706$521$140
26 years$1,575$1,186$880$646$469$118
27 years$1,500$1,116$818$591$423$100
28 years$1,431$1,052$760$542$381$84
29 years$1,367$992$707$497$344$71
30 years$1,307$937$659$456$311$60
31 years$1,251$886$614$419$281$51
32 years$1,199$838$573$385$255$43
33 years$1,150$794$535$354$230$36
34 years$1,104$752$500$326$209$31
35 years$1,060$713$467$300$189$26
36 years$1,020$677$437$276$171$22
37 years$981$643$409$254$155$19
38 years$945$611$383$234$141$16
39 years$910$581$359$216$128$13
40 years$878$553$337$199$116$11
41 years$847$526$316$184$105$10
42 years$817$501$296$170$95$8
43 years$789$478$278$157$86$7
44 years$763$455$261$145$78$6
45 years$737$434$245$134$71$5
46 years$713$414$230$123$65$4
47 years$690$395$216$114$59$3
48 years$668$377$203$105$53$3
49 years$647$360$191$97$48$2
50 years$627$344$179$90$44$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $642,000, adding $4,802 every year, while hoping to spend $25,916 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 58/14/28 Blend
59$642,000$642,000$642,000$642,000
60$712,437$678,411$668,460$748,058
61$757,531$684,079$663,279$778,666
62$806,357$689,156$657,056$808,884
63$859,266$693,586$649,729$841,299
64$916,648$697,308$641,231$876,133
65$978,930$700,260$631,496$913,629
66$1,046,581$702,373$620,451$954,057
67$1,120,118$703,575$608,022$997,715
68$1,200,110$703,790$594,131$1,044,934
69$1,287,181$702,936$578,695$1,096,075
70$1,382,021$700,927$561,628$1,151,543
71$1,485,386$697,672$542,842$1,211,782
72$1,598,110$693,072$522,242$1,277,284
73$1,721,111$687,026$499,730$1,348,590
74$1,855,397$679,423$475,203$1,426,301
75$2,002,080$670,147$448,556$1,511,080
76$2,162,384$659,076$419,674$1,603,657
77$2,337,656$646,080$388,442$1,704,841
78$2,529,379$631,019$354,737$1,815,525
79$2,739,186$613,750$318,431$1,936,694
80$2,968,875$594,116$279,391$2,069,436
81$3,220,427$571,955$237,477$2,214,953
82$3,496,022$547,092$192,544$2,374,570
83$3,798,062$519,345$144,440$2,549,752
84$4,129,192$488,520$93,006$2,742,115
85$4,492,324$454,412$38,076$2,953,444
86$4,890,667$416,805$0$3,185,706
87$5,327,755$375,468$0$3,447,214
88$5,807,481$330,161$0$3,746,765
89$6,334,132$280,627$0$4,075,675
90$6,912,431$226,595$0$4,436,923
91$7,547,582$167,781$0$4,833,792
92$8,245,316$103,883$0$5,269,900
93$9,011,947$34,582$0$5,749,237
94$9,854,431$0$0$6,276,197
95$10,780,431$0$0$6,861,859
96$11,798,390$0$0$7,511,598
97$12,917,609$0$0$8,226,030
98$14,148,336$0$0$9,011,704
99$15,501,860$0$0$9,875,836
100$16,990,621$0$0$10,826,374